Wealthy investors find opportunities in stock market sell-offs
Wealthy investors and family offices shied away from stocks leading up to market swings this week, but many saw the drop in prices as an opportunity for tax savings and…
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JPMorgan Chase is giving its employees an AI assistant powered by ChatGPT maker OpenAI
JPMorgan Chase has rolled out a generative artificial intelligence assistant to tens of thousands of its employees in recent weeks, the initial phase of a broader plan to inject the technology…
Stocks close higher, clawing back some losses from Monday’s sell-off
Stocks ticked up Friday as the stock market built on its incredible comeback from Monday’s violent rout. The broad market index ended the week just shy of completely reversing its…
An interest rate cut is coming. Here’s what to do with your money beforehand.
The Federal Reserve is gearing up to cut interest rates as soon as next month, which could bring relief to people with mortgages, credit cards and car loans. But it…
Stellantis laying off 2,450 plant workers due to discontinuation of Ram ‘Classic’ pickup truck
DETROIT — Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 pickup truck…
Three Disney films could top $1 billion this year after box office rut
After years of starts and stops at the box office, Disney appears to have hit a groove in 2024. Its latest Pixar film, “Inside Out 2,” is now the highest-grossing animated film of all…
Delta says chaos after CrowdStrike outage cost it $550 million
Delta Air Lines on Thursday said last month’s CrowdStrike outage and subsequent mass flight cancellations cost it some $550 million and reiterated that it is pursuing legal claims against the company as well as Microsoft. The…
Amazon’s $4 billion investment in AI firm Anthropic faces U.K. merger investigation
LONDON — E-commerce giant Amazon’s multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator. The Competition and Markets Authority said Thursday that it has…
Boeing’s new outsider CEO Ortberg takes the helm, this time from the factory floor
Aerospace veteran Robert “Kelly” Ortberg becomes Boeing’s new CEO on Thursday with a singular mission: restoring the reputation of a U.S. manufacturing icon. That enormous goal will involve thousands of daily decisions that…
‘People are stretched’: Average consumer now carries $6,329 in credit card debt
Credit card debt is on the rise. Americans now owe a record $1.14 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. The average balance per consumer stands at…